BMO Capital Markets Cuts Cal-Maine Foods (NASDAQ:CALM) Price Target to $85.00

Cal-Maine Foods (NASDAQ:CALM) had its price objective decreased by BMO Capital Markets from $97.00 to $85.00 in a research report sent to investors on Thursday morning, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. Stephens set a $95.00 price target on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a research note on Tuesday, December 30th. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research report on Friday, October 3rd. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. Finally, The Goldman Sachs Group cut their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $73.69 on Thursday. The stock has a 50-day simple moving average of $84.60 and a two-hundred day simple moving average of $96.35. The firm has a market capitalization of $3.57 billion, a PE ratio of 3.11 and a beta of 0.26. Cal-Maine Foods has a 52-week low of $72.52 and a 52-week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $769.50 million for the quarter, compared to the consensus estimate of $828.46 million. Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. Cal-Maine Foods’s revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.47 earnings per share. Equities analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio is presently 23.28%.

Hedge Funds Weigh In On Cal-Maine Foods

A number of large investors have recently bought and sold shares of CALM. IFP Advisors Inc increased its stake in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 158 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Cal-Maine Foods during the third quarter valued at $32,000. National Bank of Canada FI bought a new position in shares of Cal-Maine Foods in the third quarter worth about $42,000. Carolina Wealth Advisors LLC purchased a new position in Cal-Maine Foods in the 3rd quarter worth about $47,000. Finally, AdvisorNet Financial Inc purchased a new position in Cal-Maine Foods in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.